Introduction
Cambridge Arts Theatre exists to inspire and nurture a lifelong love of the performing arts. A thriving regional showcase, it’s the only high-quality presenting theatre within 60 miles serving the population of Cambridgeshire and the surrounding area. They attract over 130,000 visitors a year.
We have a long standing relationship with Cambridge Arts Theatre and are delighted to be helping them to appoint a new head of finance. This newly created role has been created at an exciting time in the Theatre’s history. A capital building project has just got under way which will see the need to raise upwards of £15m to refurbish the auditorium and create a new performance space. This will give the opportunity to attract a wider variety of shows, engage more with their audience and the community, in Cambridge and the surrounding areas.
Theatre overview
Cambridge Arts Theatre was founded in 1936 by the economist and founding member of the Arts Council, John Maynard Keynes. They’ve helped launch the careers of theatrical luminaries, such as Ian McKellen, Derek Jacobi, Emma Thompson and Stephen Fry. And four of the last five directors of the National Theatre – Peter Hall, Trevor Nunn, Richard Eyre and Nicholas Hytner – all directed on our stage at the start of their careers.
They’ve played host to a dazzling variety of cultural milestones, from Margot Fonteyn dancing her first Swan Lake to Harold Pinter’s premiere of The Birthday Party.
Today, Cambridge Arts Theatre is a venue of choice for all scale appropriate drama, dance and opera in both the subsidised and commercial sectors.
Cambridge Arts Theatre is a registered charity with over 90% of our income currently being raised through ticket sales, booking fee and front of house sales. Diversification and enhancement of our income streams is a key priority.
About the people
Dave Murphy took over the reigns as CEO in 2003 and has played a transformative role to create a theatre that exists to inspire and nurture a life-long love of the performing arts.
The wider leadership team comprises:
- Executive Director, Victoria Beechey with responsibility for with responsibility for the strategy and day-to-day operations of the Theatre including Finance, HR, Front of House operations, Technical, Marketing and Box Office.
- Director of Philanthropy, Hannah Cosh with responsibility for leading the capital and revenue fundraising of the Theatre.
As a registered charity, Cambridge Arts Theatre has a robust trustee Board, chaired by Ian Mather.
The role
The Head of Finance is responsible for the overall financial management of Cambridge Arts Theatre Trust Ltd., its subsidiary companies and ensuring compliance with all legal requirements. This role will make a vital contribution to the long-term success of the charity.
This is an exciting opportunity to help:
- streamline internal reporting
- lead on the day-to-day transactional finance
- prepare and consolidate monthly management accounts
- lead on the statutory audit.
Reporting to the Executive Director, the Head of Finance will work with a small and agile team to efficiently deliver financial information critical to decision-making.
Job description
- Hours: Full Time, Monday to Friday (40 hours per week including 1 hour lunch break)
- Duration: Permanent
- Location: Cambridge
- Pension: 5% employer contribution, 5% employee contribution
- Annual Leave: Holiday 25 days plus national holidays
- Healthcare
- Other benefits: Cyclescheme
Main duties and responsibilities
Leading the finance team to ensure accurate and timely processing for all group entities of the purchase ledger, sales ledger and treasury, including:
- Monthly consolidated management account preparation, reporting and variance analysis
- Preparation of VAT return workings including partial exemption calculations
- Leading the year-end audit and preparation of statutory accounts
- Trusts, funds and grant claims and audits
- Working with the Executive Director to prepare annual financial budgets and monitoring
- Working with Heads of Departments to prepare departmental budgets, review performance and make improvements
- Internal financial reporting and analysis
- Systems, controls and process improvements including ad-hoc projects
- Training of staff
- Payment approvals
- Credit control.
Specific role detail
Business area management accounting, reporting and analysis.
- Extensive liaison with the senior management team (SMT) to ensure the best commercial and financial practice
- Monthly theatre and front-of-house management accounts
- Daily and Weekly Operating Statistics
- Grant Funding reporting and information provision to support fundraising objectives
- Project accounting for a £25m capital project.
Financial management
- Manage and administer all banking procedures
- Purchase/sales ledger management
- Cashflow management
- Management and administration of all insurance matters.
Visiting production accounting
- Weekly settlement accounting
- Weekly show forecasting
- Front of house returns.
In-house production accounting
- Production Budgeting and Control
- Expense Accounting and Control
- Weekly Show Forecasting
- Front of House Returns
- Theatre Tax Relief claims.
Budgetary management
- Preparation of annual and long-term financial budgets aligned to strategic objectives
- Production budgeting and control for all in-house productions.
Statutory accounting
- Statutory accounts for Cambridge Arts Theatre Trust Ltd.
- Trading subsidiary accounts
- Consolidated Accounts
- Directors’ and Trustees’ reports under Charities Act and best practice requirements
- Charity accounts and annual returns
- Other statutory returns as required
- Managing activity of the audit committee
- Management and review of financial systems
- Assess and review all financial systems and processes.
Regulatory compliance
- Quarterly VAT return and compliance
- Exploitation of VAT opportunities and management of any potential disputes
- Management of relationship with Inland Revenue
- Corporation Tax Management
- Annual Audit and Auditor relationship management.
Payroll – overseeing and operational as necessary
- Main monthly Theatre Payroll
- Annual PAYE returns
- Pension scheme management and returns.
Company Secretary
- Documentation of all Board and company compliance matters.
Essential skills
- ACA/ACCA/CIMA qualified
- VAT
- Strong understanding of best practices
- Demonstrable experience of using accounts packages
- Excellent excel skills.
Desirable experiences
- Multi-entity consolidation accounting
- Restricted Fund accounting
- Theatre experience
- Charity sector experience
- Partial exemption VAT
- Experience of Sage 50 Cloud
- Experience of integrating business systems
- Company secretarial.
Personal specification
- Energetic, self-motivated
- Highly organised and able to prioritise
- Proactive and accountable
- Good problem-solving skills and attention to detail
- Commercially minded
- Excellent command of the English language
- Exceptional interpersonal and communications skills, both written and verbal
- Highly collaborative team player with a willingness to continually learn and develop
- Flexible and adaptable to evolving business challenges.
